Milo Originates Record $10 Million in Crypto Mortgage Loans

MIAMI, July 19, 2022 /PRNewswire/ -- Milo, a financial technology company that is reimagining the way global and crypto consumers access financial solutions, today announced it has closed a record $10 million in crypto mortgages. This milestone achievement demonstrates the strength of Milo's innovative 30-year crypto mortgage which was brought to market only this past April. The product, which represents the world's first crypto mortgage offering, makes it easy for crypto investors to utilize their digital assets to purchase real estate in the United States.

"The success of our crypto mortgage over the past few months serves as a testament to our ability to pioneer and create a unique solution for the crypto community," said Josip Rupena, founder and CEO of Milo. "We have incredible momentum and see a fundamental need to help individuals diversify their wealth to generate real world yield through real estate. In today's volatile environment, our crypto mortgage is an excellent solution for clients who wish to continue to own crypto and invest in real estate, all while keeping the potential price appreciation of both." 

Earlier this year, Milo became the first to offer a mortgage that bridges the world of digital assets with traditional finance by allowing investors to qualify with Bitcoin, Ethereum, and USDC. To purchase property, clients can pledge their crypto with regulated and insured custodians (Gemini and Coinbase) and finance up to 100% of their purchase with no down payment required. Those who qualify can take advantage of low interest rates and a 30-year crypto mortgage up to $5 million.

"Bridging the gap between traditional finance and crypto is one of the most important pieces of the puzzle to make cryptocurrency and blockchain more ubiquitous in our daily lives," said Miami Mayor Francis Suarez. "With their mortgage product, Milo has already proven that the future of finance will serve to build wealth just like the financial tools of the past."

Real estate is a critical component to build wealth over time and many crypto consumers have been denied the opportunity and have resorted to riskier ways of generating yield as a result.

"Given the current state of the market, we're extremely proud that we have not had any margin calls or negative counterparty exposure, all while continuing to originate mortgages," said Rupena. "As a licensed and regulated entity, we take our responsibility seriously to ensure our clients' crypto is safe and returned when requested. Milo has added over 20 team members since launch and we look forward to releasing an exciting crypto refinance and non-rehypothecation option shortly."

During this time, Milo has also provided thousands of borrowers with crypto mortgage pre-qualifications, designed to preemptively let borrowers know how much they can afford. The company's other mortgage solution for U.S. and foreign nationals has already originated over $100 million in loans and has seen applicants from over 90 countries. Milo is a direct lender that is licensed, audited, insured and can stand behind its commitment to lend to its clients with certainty of closing.

About Milo:
Milo is a financial technology company reimagining the way global and crypto consumers access financial solutions to 'Unlock what's possible.' By building a proprietary technology stack from the ground up and bringing on a world class team, the company has enabled millions of dollars in U.S. home loans. Milo is passionate about driving digital transformation of financial services, solving real problems, and making a meaningful impact in people's lives. For more information visit www.milocredit.com.

CONTACT: 
Katie Snyder
Pitch Public Relations
[email protected]

SOURCE Milo Credit